A new official bullmarket

2012-01-25 02:22

We have now officially a bull market since the SP is gaining 20% since October. We are entering the last 2 months of the World Top Investor competition and without realizing it the market is in a bull market after all. Volume on the NYSE Euronext is 24% lower compare to < year ago, and the situation in Europe is muddling with IMF warning of a possible 4% contraction, but talking to investors none of them wants to be outright short in the market. Polish and Spanish investors have benefited from this not so sudden bullmarket being the only two countries populating the top 10 because being reasonably long.Most of the remaining participants seemed to miss the early year strength in the markets.The leading contestants made all of their gains at the beginning of the competition but they are not trusting this market believing it is being propped up by central banks.The question now is to know if the fund flows reverse. If they start buying on this strength chasing returns maybe some of the participants willing to be long will have a chance to raise to the top. WTI participant Pavan from India says ''there will be swings in both directions, but do not feel participants will be compelled into some artificially manipulated game they can't understand.''

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